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SearchAmerica Announces New Permissible Purpose Searches

SearchAmerica, a proven online service that helps organizations quickly, easily, and inexpensively find people, today announced the release of two new searches. Both searches, Permissible Address to Social Security Number (SSN) and Permissible SSN to Address, access the credit header (or demographic portion) of credit reports. To take advantage of these "permissible purpose" searches, organizations must show a legitimate business need for the information in connection with a business transaction initiated by the consumer.

Putting a Wrench in Delinquent Customers' "Systems"

One Nebraska credit manager (who has asked to remain anonymous) splits up collection calls with her assistant. Each takes one half of the delinquents one week and the other half the next week. There a

Donuts: Your Secret Weapon?

While you can establish strong and healthy relationships with customers over the phone, you can do even more in person. One experienced credit and collection manager we know makes it a point to vi

Collection Training: Do You "Revisit?"

As a manager, you probably remember at least one orientation program during your career where you were just literally overwhelmed with information--so much so that you simply couldn't assimilate it.

Caine & Weiner Survey Results

Caine & Weiner recently conducted a survey with businesses in every major industry in order to ascertain how today's economic climate was affecting their cash flow and how they were addressing it. The survey results would suggest that cautionary, proactive strategies have been implemented by Accounts Receivable Managers to deal with the ongoing uncertainties of the economy.

Credit & Collection Managers closely watch the sluggish U.S. Economy

Woodland Hills, CA -- With the national employment rate stuck at 9.6 percent (14.8 unemployed Americans) and the U.S economy growing at an anemic two percent annual rate in the third quarter, Caine & Weiner, an international provider of accounts receivable management solutions, surveyed businesses in every major industry to determine how the uncertain economy was affecting their cash flow.

ACA International Announces Change at Chief Executive Officer

The ACA International Executive Committee today announced that it will not renew the employment contract of Rozanne M. Andersen as Chief Executive Officer of ACA International.

Effective immediately, ACA Chief Operating Officer Ted Smith will assume leadership responsibilities for the organization. The ACA Executive Committee has commissioned a national search for a new Chief Executive Officer.

CCAA Executive Director Emil Hartleb to Retire

Meg Scotty, Chair of the Commercial Collection Agency Association (CCAA), announces that Emil Hartleb, Executive Director of the CCAA, has indicated his decision to retire as CCAA's Executive Director effective as soon as a replacement is found.

Ms. Scotty indicated, "It is with reluctance that the Council of the CCAA has accepted Emil's retirement. He has served the CCAA, its members and the business credit community well for the years he has served as Executive Director.

Credit Reporting and Bankruptcy: Is Your Post-Discharge Credit Reporting Inviting Trouble?

In difficult economic times, debtors' attorneys closely review credit reports looking for potential legal claims against creditors. Long after a debtor has been discharged from bankruptcy, creditors can find themselves defending claims of improper credit reporting. A recent case from the Eastern District of North Carolina illustrates the trouble facing creditors who furnish incorrect reports of discharged debt. See In re Adams (Bankr. E.D.N.C. 2010).

Collection Processes Outlined

"I don't do much letter writing anymore," notes Jan Perlman, credit manager for Medo Industries, Inc. (Tarrytown, N.Y.). But when her other efforts to make contact with a delinquent customer have failed, she will sometimes send a certified letter--to make sure it is received--and follow up with a phone call. She cites a recent situation with one long-term customer. Medo's experience with this company had been very eventful. After satisfactory relations for several years, credit privileges had to be suspended when they ran into severe financial problems.

New Service Reduces Collection Workload

The Commercial Collection Corporation of New York, Inc. is now offering a new service option that helps credit managers reduce the amount of time required to monitor delinquent accounts. Clients that use SAP or other business software can now eliminate multiple e-mail updates and paper reports from collection agencies. CCC of NY will interface directly into the client's secured system from its U.S. based facility, which provides the following benefits:

Commercial Collection Agency Association Members Continue to Report a Decline in B2B Accounts For Co

In the third quarter of 2010, Commercial Collection Agency Association (CCAA) members reported a decline in the dollar amount of B2B accounts they received for collection of 16.5%, when the third quarter of 2010 is compared to the same quarter in 2009.

"Have you been trying to reach me?"

How's this for an opening line for a collection call? "Have you been trying to reach me?" Ummm, yeah, right, you might be thinking... My past due customers sure aren't beating down the door trying to reach me. What a ridiculous question! On a strictly literal level, that is probably true.

Industry leaders establish alliance partnership

Construction industry to directly benefit from Caine & Weiner and BICA's 187 years of combined credit and collection expertise Woodland Hills, CA--Caine & Weiner, an International provider o

Why You Should Make a Copy of Your Customer's Checks

It only takes a minute, but it can save you many hours and more dollars months or years down the line. When you set up a customer's file, include a copy of that first check. Thereafter, compare sub

Two Key Elements of a Top Bank's Collection Training Program

One bank with a highly-successful collection operation emphasizes, among other things, thorough training for their collectors. First, they cover their overall philosophy, but also provides collectors with specific collection tools that will help them implement the philosophy. There are five key tools they aim to give their collectors. In this weeks' tip, we'll cover two of them.

Entrepreneur: Hardball Collections Pay Off

One very successful entrepreneur we know acknowledges that he owes his effectiveness in managing credit and collections to one supplier he had soon after he started his business. "I was late paying him, and he put me on COD for six months, no exceptions," he remembers. "And since this was a supplier I relied on heavily, I was forced to visit the plant weekly to pick up material and pay by check. Even if the supplier had been willing to extend 10-day terms to me, I would have jumped at it. It was a real inconvenience to be on COD. Now he is in the position of implementing his own collection and credit philosophy and he learned a lot from the past. Here's his strategy and how it works...

the surprising way he handles initial credit and personal guarantees (we've never seen a policy quite like this before!)
learn how his policy on collections works.
and the results, in terms of sales and DSO.

An Unusual Source of Inspiration For Better Collection Letters

When writing collection letters, consider the goals of direct mail. Advertising is organized to spark four basic reactions: Attention, Interest, Desire, and Action--AIDA. Generally speaking, yo

Interactive Intelligence Acquires Latitude Software

INDIANAPOLIS and JACKSONVILLE, Fla. -- Interactive Intelligence (Nasdaq: ININ), a global provider of unified IP business communications solutions, has acquired Global Software Services, Inc., doing business as Latitude Software, a privately-held provider of debt collection software and services.

How NOT to Select a Collection Agency

Three of the most common ways people use to select a collection agency may well be three of the least effective. These are. . . You like the salesperson. You've heard they're the